The Dodge Momentum Index has now:
-posted increases in 10 of the last 12 months,
-stands 18% higher than its November 2015 reading and
-moved 0.3% higher in November to 133.2 from its revised October reading of 132.7 (2000=100).
According to Dodge, the Index has been shown to lead construction spending for nonresidential buildings by a full year and this trend indicates construction activity should continue to strengthen in 2017.
Specifically, the Commercial Building component rose 4.1% after having a very weak start to the year but has since moved forward and is now 35% above last year. While the Intuitional component slipped 5.2% in the month, but had shown strength earlier in the 2016 and has since receded, and is now 2% lower than last year. While trending higher over the last